Russia and India are likely to form a joint venture focusing on exploration and uranium mining, the head of the Russian atomic corporation Rosatom said.

Mitsubishi Motors Corporation, a Japanese car maker, currently building a plant in the Kaluga region conjointly with PSA Peugeot Citroen, plans to start Russian car production in autumn.

The three-year agreement between the Russian company and Rosy Blue, Diamond India Ltd and Ratial Becharlal and Sons implies a monthly revision of prices and range of diamonds as well as the option to extend deliveries.

The new office will be located in St Petersburg, instead of Moscow where the office rent is too expensive.

ALROSa, Russia's diamond monopoly, was named the world's largest diamond producer in 2009.